Metro Bank Mortgage Rates, Fees & Info

Pell City, AL

LEI: 549300KI5WZF5PXKAF12

Tax ID: 62-1372975

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Metro Bank is a smaller bank specializing in Refi and Home Purchase loans. Metro Bank has a high proportion of conventional loans. Their top markets by origination volume include: Birmingham, Gadsden, Talladega, Anniston, and Crestview among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Metro Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    231

    Origination Dollar Volume (All Markets)

    $20,175,000

    Employee count

    165

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 120 $12,200,000 $101,667 $0 0.00%
    GADSDEN, AL (FHA|USDA|VA) 33 $2,315,000 $70,152 $0 0.00%
    Talladega-Sylacauga, AL (FHA|USDA|VA) 25 $1,735,000 $69,400 $0 0.00%
    ANNISTON-OXFORD, AL (FHA|USDA|VA) 25 $1,225,000 $49,000 $0 0.00%
    Outside of Metro Areas 19 $1,145,000 $60,263 $0 0.00%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $800,000 $400,000 $0 0.00%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 2 $310,000 $155,000 $0 0.00%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $150,000 $75,000 $0 0.00%
    MONTGOMERY, AL (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
    Metro Bank's top markets include Birmingham, Gadsden, Talladega, Anniston, and Crestview among others.

    Their top states include:
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 231 $20,175,000 $87,338 $0 0.00%

    For 2019, Metro Bank's most frequently originated type of loan was Conventional, with 231 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 117 $8,615,000 $73,632 $0 0.00%
    Home Purchase 90 $8,310,000 $92,333 $0 0.00%
    Other 14 $760,000 $54,286 $0 0.00%
    Home Improvement 10 $2,490,000 $249,000 $0 0.00%

    For 2019, Metro Bank's most frequently cited loan purpose was Refi, with 117 originations. The 2nd most popular reason was Home Purchase, with 90 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 231 $20,175,000 $87,338 $0 0.00%

    For 2019, Metro Bank's most frequently cited loan duration was Other, with 231 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 187 $9,095,000 $48,636 $0 0.00%
    $100k-200k 30 $4,150,000 $138,333 $0 0.00%
    $200k-400k 9 $2,255,000 $250,556 $0 0.00%
    $400k-600k 3 $1,275,000 $425,000 $0 0.00%
    $1MM+ 2 $3,400,000 $1,700,000 $0 0.00%

    2019 saw Metro Bank place emphasis on $100,000 or less loans with 187 originations, totaling $9,095,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 57 $2,635,000 $46,228 $0 0.00%
    $50k-75k 46 $3,550,000 $77,174 $0 0.00%
    $75k-100k 25 $1,775,000 $71,000 $0 0.00%
    $100k-150k 16 $1,170,000 $73,125 $0 0.00%
    $150k-250k 8 $1,120,000 $140,000 $0 0.00%
    $250k+ 5 $445,000 $89,000 $0 0.00%

    Metro Bank lent most frequently to those with incomes in the $50k or less range, with 57 originations. The second most popular income band? $50k-75k, with 46 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 231 $20,175,000 $87,338 $0 0.00%

    Metro Bank lent most frequently to those with DTI ratios of Exempt%, with 231 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 183 $13,275,000 $72,541 $0 0.00%
    Not applicable 40 $6,690,000 $167,250 $0 0.00%
    Black 7 $175,000 $25,000 $0 0.00%
    Filipino 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.18%

    Metro Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.68%

    Metro Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 231 $20,175,000 $87,338

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 3 $155,000 $51,667
    Multifamily:Site-Built 3 $3,785,000 $1,261,667
    Single Family (1-4 Units):Manufactured 80 $3,820,000 $47,750
    Single Family (1-4 Units):Site-Built 145 $12,415,000 $85,621

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Metropolitan Home Mortgage, Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Metro Bank 47537 Highway 78 Lincoln, AL 35096 Full Service B&M $28,066
    Metro Bank 1022 Coleman St Heflin, AL 36264 Full Service B&M $84,860
    Metro Bank 1164 Main Street Ragland, AL 35131 Full Service B&M $34,216
    Metro Bank 1920 Martin Street South Pell City, AL 35128 Limited, Drive-thru $0
    Metro Bank 2325 Highway 77 Southside, AL 35907 Full Service B&M $49,950
    Metro Bank 2603 Moody Parkway, Suite 100 Moody, AL 35004 Full Service B&M $52,740
    Metro Bank 35489 Ushwy 231 Ashville, AL 35953 Full Service B&M $65,700
    Metro Bank 800 Martin Street South Pell City, AL 35128 Full Service B&M $313,485
    Metro Bank Highway 231 North & Lewis Lake Rd Pell City, AL 35125 Limited, Drive-thru $0

    For 2019, Metro Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $33,609
    Net interest income $28,783
    Total noninterest income $4,830
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,539
    Trading account gains and fees $0
    Additional Noninterest Income $3,291
    Pre-tax net operating income $15,411
    Securities gains (or losses, -) $0
    Income before extraordinary items $12,172
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $12,172
    Minority interest net income $0
    Net income $12,172
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $12,172

    Metro Bank's gross interest income from loans was $33,609,000.
    Metro Bank's net interest income from loans was $28,783,000.
    Metro Bank's fee based income from loans was $1,539,000.
    Metro Bank's net income from loans was $12,172,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,826
    Provision for credit losses $250
    Total noninterest expense $17,952
    Salaries and employee benefits $12,120
    Premises and equipment expense $1,422
    Additional noninterest expense $4,410
    Applicable income taxes $3,239
    Net charge-offs $592
    Cash dividends $2,730

    Metro Bank's interest expense for loans was $4,826,000.
    Metro Bank's payroll and benefits expense were $12,120,000.
    Metro Bank's property, plant and equipment expenses $1,422,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 3.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $640,786
    Deposits held in domestic offices $640,786
    Deposits by Individuals, partnerships, and corporations $553,261
    Deposits by U.S. Government $425
    Deposits by States and political subdivisions in the U.S. $86,270
    Deposits by Commercial banks and other depository institutions in U.S. $830
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $226,280
    Demand deposits $159,278
    Nontransaction accounts $414,506
    Money market deposit accounts (MMDAs) $114,553
    Other savings deposits (excluding MMDAs) $66,554
    Total time deposits $233,399
    Total time and savings deposits $481,508
    Noninterest-bearing deposits $159,278
    Interest-bearing deposits $481,508
    Retail deposits $596,790
    IRAs and Keogh plan accounts $54,833
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $763,507
    Cash & Balances due from depository institutions $53,530
    Interest-bearing balances $42,033
    Total securities $212,884
    Federal funds sold & reverse repurchase $31,100
    Net loans and leases $441,801
    Loan and leases loss allowance $5,378
    Trading account assets $0
    Bank premises and fixed assets $12,217
    Other real estate owned $5,171
    Goodwill and other intangibles $0
    All other assets $6,804

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $763,507
    Total Liabilities $644,532
    Total deposits $640,786
    Interest-bearing deposits $481,508
    Deposits held in domestic offices $640,786
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $3,746

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $441,801
    Loan and leases loss allowance $5,378
    Total loans and leases (domestic) $447,179
    All real estate loans $352,248
    Real estate loans in domestic offices $352,248
    Construction and development loans $75,479
    Residential 1-4 family construction $25,959
    Other construction, all land development and other land $49,520
    Loans secured by nonfarm nonresidential properties $160,612
    Nonfarm nonresidential secured by owner-occupied properties $70,105
    Commercial real estate & other non-farm, non-residential $90,507
    Multifamily residential real estate $19,388
    1-4 family residential loans $87,433
    Farmland loans $9,336
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $64,370
    To non-U.S. addressees $0
    Loans to individuals $15,443
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $3,735
    Other loans to individuals $11,708
    All other loans & leases $15,119
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Metro Bank had $441,801,000 of loans outstanding in 2019. $352,248,000 of loans were in real estate loans. $75,479,000 of loans were in development loans. $19,388,000 of loans were in multifamily mortgage loans. $87,433,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $3,735,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 465 $77,959 $167,654
    Nonfarm, nonresidential loans - <$100k 140 $5,986 $42,757
    Nonfarm, nonresidential loans - $100-250k 182 $23,676 $130,088
    Nonfarm, nonresidential loans - $250k-1MM 143 $48,297 $337,741
    Commercial & Industrial, US addressed loans - <$1MM 927 $32,236 $34,775
    Commercial & Industrial, US addressed loans - <$100k 810 $13,892 $17,151
    Commercial & Industrial, US addressed loans - $100-250k 86 $9,024 $104,930
    Commercial & Industrial, US addressed loans - $250k-1MM 31 $9,320 $300,645
    Farmland loans - <$1MM 149 $8,834 $59,289
    Farmland loans - <$100k 113 $3,111 $27,531
    Farmland loans - $100-250k 29 $3,162 $109,034
    Farmland loans - $250k-1MM 7 $2,561 $365,857